How to Prepare for an Unforeseen Disability | San Jose Will and Trust Lawyers

A major disability can have a profound impact on a family, both emotionally and financially. While the disability itself can be difficult to deal with, the resulting financial strains can often exacerbate the situation. This can create a self-perpetuating cycle where financial difficulty feeds the emotional strains and vice versa. Planning for the possibility of disability will not necessarily prevent an unexpected illness or injury, but it will aid in dealing with the fallout should it happen.

Disability Insurance

One way to plan for the possibility of disability is to purchase disability insurance. This type of insurance can provide much-needed financial assistance if you are ever unable to work due to an illness or injury. There are many different benefits and types of policies, and your attorney can help you determine what is right for you. Taking this precautionary measure can help prevent some of the stress and strain that a major disability can cause.

In choosing your policy, there are several things you will want to consider, including:

  • Medical costs
  • Loss of income
  • Monthly expenses
  • Caregiver’s expenses
  • Modifications to your home
  • Transportation
    ·      Length of time care is provided

These are just a few of the topics that your San Jose will and trust lawyers will discuss with you to make sure that you buy a policy that fits your needs.

Preparing for a potential disability is not limited to financial issues, either. There are other very important decisions that you may want to make in advance. For example, do you have a medical power of attorney in place? This document gives the person of your choice the authority to make medical decisions on your behalf. This could become extremely important if you are either physically or mentally incapacitated and cannot make decisions on your own.

To assist this person in following your wishes, you’ll also want to have your lawyer help you create a living will. A living will is a fairly in-depth document that allows you to record your wishes regarding a variety of medical interventions, as well as end-of-life choices. Having this document available can take a considerable burden off of your family and caregivers who may be in shock or simply unsure of what your wishes would have been in a given situation.

San Jose will and trust lawyers do their best to help clients prepare for all kinds of situations. Putting some thought, effort, and possibly money into planning for an unexpected disability is a thoughtful and smart investment. If you would like more information about planning for disability or you are ready to get started, please feel free to call our office at (800) 244-8814  and ask to schedule a consultation

If you have any further questions about asset protection planning and strategies to shield your wealth, or if you’d like to have your current asset protection plan reviewed to make sure it still meets your needs, please contact us at our California office at 800-244-8814 to set up a consultation.

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